“Sell old gold” and get cash! How many commercials have you seen on television telling you to drop your unwanted old gold into a mail box? According to Michael H. Gusky, founder of trusted gold buyer, GoldFellow.com, some of the companies advertising on television have the most complaints against them. Before you sell old gold to anyone, Gusky suggests you do your homework.
One place to start your research before deciding where to sell old gold is the Better Business Bureau. Gusky also recommends reading a gold buyer’s website to determine whether your package is track-able, fully insured and if you will receive a written estimate before being paid. Consumers who choose to sell their old gold to GoldFellow® receive a free track-able FedEx® air bill which automatically insures their package for $1,000. GoldFellow® customers must see and approve a written estimate before they are paid.
Once you are satisfied you will sell old gold to a reputable company, it’s a good idea to have a realistic expectation of the value of your gold before you ship it. Unlike other gold buyer’s websites, GoldFellow® offers some unique tools to help consumers estimate the value of their gold in advance. The Gold Payments Gallery shows hundreds of photos of jewelry the company has already purchased and the price paid. Included in the photo is the item’s karat and weight shown in grams and pennyweights. Search the photos which are itemized by type of gold jewelry such as earrings, chains, class rings, etc. to find something similar to what the old gold you want to sell. It will give you an approximate idea of value.
Another tool consumers can use before they decide to sell old gold is GoldFellow®’s gold value estimator. Separate the gold you wish to sell by karat. Weigh your items in karat lots on a jewelry scale set to pennyweight. Then enter the weight in the correct karat on the calculator and click “estimate”. That will give you the current day’s price you could sell old gold of that karat and weight to GoldFellow® for.